PMC Bank: About 78% Depositors Allowed to Withdraw Funds

As many as 78% depositors of the scam-hit PMC Bank have been allowed to withdraw their entire deposits even though the ceiling of Rs.50,000 on withdrawal continues, finance minister Nirmala Sitharaman said in Lok Sabha. Sitharaman also said that in case of medical emergencies, marriages and other crisis situations, a depositor of the Maharashtrabased PMC Bank can withdraw upto Rs.1 lakh by invoking the 'hardship provisions' of the RBI. "Nearly 78% depositors are now allowed to withdraw their entire account balance. They are small depositors. With this, the concerns of all small depositors are take care of," she said during Question Hour.

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